Counterfeiting costs the global economy over $250 billion annually. However startup Authenticateit hopes to begin solving that problem.
The first of its kind in the world, Authenticateit’s technology empowers brands to track and trace their products throughout the supply chain, prevent unauthorised distribution, grey importing and allows retailers to verify authenticity of goods received from their suppliers.
Consumers can simultaneously use the free Authenticateit smartphone application as a fast and convenient way to check an item’s authenticity before purchase to ensure they don’t buy a counterfeit product unknowingly.
Authenticateit’s system is fully compatible with GS1 global standards making it easy for brands to implement Authenticateit without the cost and hassle of adding additional identifiers.
The GS1 Databar was selected as the Unique Product Identifier (UPI) allowing consumers to scan it as barcode to verify the product authenticity and as a product barcode to be used by retailers at point-of-sale.
Authenticateit founder Gennady Volchek said the tool was needed to prevent retailers and consumers from unknowingly selling and buying counterfeit goods sourced from rogue importers.
“The rise of counterfeiting is more prevalent as more retailers and shoppers head online to find better deals.
“Authenticateit enables brands to take immediate action to recall, bar, disable or neutralize unauthorised sales or imports.
“Today we’re unveiling our app to the world and urging Australian manufacturers and retailers to jump on board to help protect themselves and their customers,” Mr. Volchek said.
Michael Kaper, MD of Jumbo Ugg Australia, one of the leading manufacturers of Ugg Boots to the world, said Authenticateit’s technology works seamlessly to protect the brand and consumers globally from buying non-genuine Ugg products.
“Jumbo Ugg chose Authenticate as a measure to help prevent the growing number of counterfeits and add value to our customers so they have peace of mind knowing they are purchasing a genuine product.”
Serge Derbin from LeSerge, an Australian company supplying leather goods globally, uses Authenticateit to add value to loyal brand followers as well as protect brands of companies engaging Leserge as the manufacturer for their product.
“We have integrated Authenticateit into our manufacturing process to allow us to protect our brand and the goods we make for other companies, as their success is directly related to our bottom line.”
“Authenticateit also helps us keep track of where our products are sold, providing us with valuable marketing and product development information.
“It’s a powerful tool for us, and I think would benefit any businesses trying to protect its intellectual property.”